This kind of drawn out process won’t fly any
longer. An IFRS
17 compliant reporting process will require that contract data be
collected, analyzed and reported in a matter of days.

Furthermore, the data underlying reports must
be as current as possible and insurers must be ready to collect, consolidate,
analyze and report on the data while it is very fresh.

This requirement demands streamlined data
reporting processes with simple data collection and reporting workflows that
are tightly coordinated with the central data collection process. At the same
time, the data management systems must be able to re-validate data and flow
changes through the rest of the data analysis and reporting process.

Additionally, many consumers of the reports – auditors, shareholders, clients, regulators, institutional investors, and soon – may ask for reports requiring rapid slicing and dicing of data in many different ways.These new demands on reporting call for data collection and analysis to be reinvented.

Nimble Data Management for Nimble Reporting

Systemorph and Synpulse have teamed together to enable insurers to revolutionize their processes for creating and using financial data to comply with IFRS 17.

The result is nimble data management that enables nimble reporting for IFRS 17 compliance.

Together Systemorph and Synpulse provide workable software for data management and reporting within weeks rather than months or years as in traditional data management processes. This innovative approach accelerates implementation of an insurer’s reporting process for IFRS17.

The product combines data-gathering workflows, a master data hub, a calculation engine, and analytics and visualization tools into a single solution. It supports an end-to-end business process that centralizes data control while distributing data management tasks.

The product provides users across the entire reporting process with intuitive data management tools that are as simple as using a smartphone app.

The interface standardizes data reporting and validation processes, ensuring data is collected very quickly and validation is smooth and simple. As a result, data is current and accurate at all reporting and analysis levels.

IFRS17 Solution Foundation in Four Weeks

In fact, a live system using real data can
be ready in only four weeks.

That means an insurer’s business managers can
explore their modeling and reporting ideas in working software rather than
trying to plan abstractly with diagrams or long documents.

Our solution lets business managers see their methodologies come to life, allowing them to analyze and refine them in real time. Rapid iteration enables managers to make the right choices for modeling and calculation without setting their decisions in stone.

What we deliver in four weeks

After 4 weeks you have results based on two IFRS17 methodology variations. Enabling you to make a well-informed methodology choice for your company.

This revolutionary approach is possible because of the Vertex platform’s unique technology, which was developed hand-in-handwith this agile development process and serves as its underlying foundation.

Many insurers looking to comply with IFRS
17 no longer have the appetite for long, expensive, staff-intensive software
build-out and customization projects.

Contact us today

Systemorph’s innovative financial data management solutions provide you with a powerful platform for your IFRS 17 reporting process. Learn more about the best practices for IFRS 17 compliance in our expert series of articles.